Hi,

Warning - this might be a user error:) - if so, feel free to verbally slap me.

I have downloaded and installed the Armory client. Before committing any funds I wanted to try - Test a Paper Backup. Trouble is, when I press the test backup button, after entering the full root key, nothing happens.

Many thanks & good work on this fantastic client.

rpfnpXr7ZmU5y5rBZRo5EbuWBDiiEQJiqf

tl;dr

I must admit, I haven't read the entire thread, so I don't know if the following is new information.

I have watched all of Paul Grignons Money as Debt series and stumbled upon a video that could explain Ripple in detail. If BitCoins are to be the "perpetuals" within the Ripple system, I take my hat off to everyone involved for providing the world with a better monetary system. Watch the following video to understand what Ripple is most likely trying to build on the back of BitCoins:

https://www.youtube.com/watch?v=dkXclJr1Z4U

Here in Sweden we'll get a service called swish from Q4 2012 and onward. This should open up possibilities for instantaneous payments p2p, possibly even allow for decentralized exchanges and a host of other improvements (think everything mintchip would allow).

Not sure about developments in Denmark, or the rest of Scandinavia.

https://www.getswish.se/

This should be on all Danes radar too. Danske Bank is one of the providers who have signed up. It might be that it's easier to implement in Sweden due to the fact that we only have 4-5 big banks whereas you Danes have an incalculable amount of different banks.

Thank you. Answer I was looking for. Satoshi sure knew his stuff.

http://www.cyberwarzone.com/did-nsa-put-secret-backdoor-new-encryption-standard

"But one of those generators -- the one based on elliptic curves -- is not like the others. Called Dual_EC_DRBG, not only is it a mouthful to say, it's also three orders of magnitude slower than its peers. It's in the standard only because it's been championed by the NSA, which first proposed it years ago in a related standardization project at the American National Standards Institute."

Anything to worry about?

Great work!

Been hoping to get into ASIC mining, but was planning to wait for BFL to resolve its order log.

Ordered 2 *54GH/s.

Agree, both email and payment.

Good job. Great idea. I have complete trust in the board with it's current composition and it feels good that we'll have a dedicated core team of funded developers that can focus full time on building this economy. Looking forward to see this develop.

Roger & Mark - We're all grateful for your donations.

I have signed up for 1 years membership. (Signup should be smoother - email confirmation, QR code etc)

Best of luck.

Good to see the Mogambo Guru dabble in Bitcoins. I first started reading him at the dailyreckoning many years ago while Kurt Richebacher (best analyst ever, how I miss him) was still alive.

Seems likely that the announcement will be made during Bitcoin Conference, London 15-16, September 2012.

http://bitcoin2012.com/

For those of you speculating about Iceland. Looking at the list of speakers, we have - Birgitta Jónsdóttir, member of the Icelandic Parliament. She is also the spokesperson and main sponsor for the International Modern Media Institute.

http://en.wikipedia.org/wiki/Icelandic_Modern_Media_Initiative

Reading through the the Elements of the law, it seems Iceland might be the one civilized country that will act to protect the bitcoin network, as opposed to doing everything to overthrow and disrupt it.

We have the people of Iceland to thank for setting precedent by throwing out the bondholders in 08/09 and rewriting their constitution.

http://theguardianeyewitness.tumblr.com/post/749345738/protest-at-icelandic-premiers-residence

Lets hope the pieces fit the puzzle. Either way, Birgitta Jónsdóttirs speech should be interesting.

Anyone here have any idea as to what Gavin was alluding to?

The Bitcoin Project will be making a major announcement in September that should contribute some stability, he said. Still, he predicted things will continue to be exciting in the world of Bitcoin with "continued controversy and chaos."

http://www.theverge.com/2012/8/15/3243200/bitcoin-ponzi-schemes-savings-and-trust

Second to last paragraph. Multisig?

Instead of trying to second guess whatever Pirate is doing in order to justify the interest rates that he offers, lets assume that he is running a ponzi (most likely the correct assumption). How much damage will the unraveling of this cause? The last thing the Bitcoin community needs at this point is for another blow up, this time from a massive ponzi-scheme, undermining confidence once again.

The kind of price action that we are currently witnessing is to be expected and reminds me of my early days trading futures. Back in early 2000, or so, Eurexchange opened up a electronic futures exchange which competed with London's LIFFE, which was open outcry and very very corrupt. Banks where tired of all the slippage caused by the open outcry system and decided to shift their trading to Eurex. All of a sudden everyone had access to trade multiple markets at once (as opposed to being stuck in one pit), and spread trades between different futures contracts became a lot more tradeable. Furthermore, in the early days all order-entry was manually done by a carbon based person, no bots, no algos, no co-located servers etc, so it was all up to the speed and ingenuity of the trader. During the early Wild West days of futures trading, before all the bots made it very hard for humans to gain any edge, there was a legendary trader rumored to be based in Ireland, nicknamed - The Flipper. This trader didn't so much make money out of the market as he did spoofing bids and offers, pulling them all at once and shifting the market and essentially capturing his money from other traders. This lasted until 2005 or so when the market outgrew his capacity for gaming it. You can read about it here:

http://www.traderdaily.com/08/insight-from-the-flipper-catching-up-with-paul-rotter/

On another note. Bitcoin needs to have a global exchange that pools all of the smaller exchanges volumes so as to ensure greater order depth. It's silly that a few USD 100K can push the price of bitcoin around by 10+% or so on a single day. Just shows how small and undeveloped this market is.

Hi Everyone,

I'm 32 years old and have for the past 8 years made a living speculating with interest rate futures. I started out flat broke, made a decent chunk of money three times, after which I returned to being flat broke. I'm now into my fourth run at financial independence and have more or less managed to squirrel away enough money to retire into a debt-free, comfortable, simple life. From early on, I realized what an absolute corruption our debt-based monetary system is and figured that if you can't beat them, why not join them, or at least, earn a living in the markets they manipulate.

Being very aware of how markets work, I have always kept half of my savings in physical gold while the rest has been mostly in cash or some derivative of it. During all these years I have envisioned the day when we can return to a honest monetary system that is more equitable and doesn't siphon work out of the productive classes (which I'm ashamed to say, I have not really been a part of - yet). I first came across Bitcoins early this year when I read an article from Rickard Falkvinge, about how the Swedish Supreme Court refused to hear the Pirate Bay trial, and subsequently looked into what else he had written. During the following month or so I started studying every aspect of Bitcoin, and for the first time, I actually felt hope that we might be able to crawl out from under our current monetary system, or rather, that a possible path, fraught with risks, has appeared. I support Bitcoin philosophically and would like to do so in action as well, where possible.

While trying to read up on all the critiques of Bitcoin, of which there are some valid points that I have yet to find good counterarguments for, I started leaving my four trading computers on overnight running mining programs. After generating about BTC20 in a month, playing around with them, running clients, transferring etc I felt comfortable enough to start accumulating some larger size. Since I live in European non SEPA country without any decent exchanges that can do any volume at reasonable prices, I just went online onto the Bitcoin-OTC IRC channel and found some very trustworthy people there, from whom I have accumulated a decent initial chunk.

My viewpoint, take it for what it is, and don't base any of your own decisions on it, is that now seems like an opportune time to start accumulating with whatever small amount of money you can instantly afford write off. Bitcoin had its disruptive boom and bust phase that hopefully let a lot of the big initial holders of Bitcoins cash out (trust me here, it's a lot better to have the BTC spread out over a lot of people, rather than a few people sitting on a corner of the currency supply). However, I must be honest in that I have no idea about current distributions and I would welcome a knowledgeable discussion. Further, price has stabilized, overall volumes are decent and the inflation rate is set to halve within 6 months. Most importantly, the Eurozone (or rather, global debt) crisis, will go from bad to worse to catastrophic in anywhere between this weekend's Greek vote and a few years out.  The sovereign debt bubble is the last one that they can blow, the previous two being stocks and housing, and this final bubble is on its last legs. Whatever monetary system they come up with, replacing our current regime, will most assuredly not be one that is beneficial to the average working man or helps keep politicians in check. Bitcoins time to shine is possibly soon upon us.

In closing, I would like to make a few requests to the main developers out there.

1) I run a dual boot with both Windows and Linux Ubuntu (Linux being my prefered system, but I need Windows for a number of work related programs). Unfortunately I made my Linux partition too small and have run into the problem of the Satoshi client chewing up all but 1gb of space (this will happen to everyone sooner or later). I love the client, but it's not viable long term. We need more clients like Electrum (which desperately needs to include a function to encrypt a file into which it places the seed info, just like we encrypt our wallets. It's an absolute nightmare learning to use gnupg or anything similar to encypt a textfile into which you paste the seed info). Preferably something looking a bit more like the Blockchain client interface. The Electrum Client could also do with a manual, in plain English, explaining things intelligibly to us non techies. Furthermore, if I want to set up a retirement account, a fund for one of my children's 18th birthday or a present for a friends child's christening the Staoshi client wallet file is not a viable alternative since they'll need a supercomputer by then to download the blockchain. How does one navigate this problem?
   
2) Weneedbitcoins, or some other Bitcoin advocacy group, should make more videos and other advertising material available in order to raise awareness, in multiple languages, regarding the need  for Bitcoins within the context of our current monetary regime. I'd be happy to help here in any way I can.

//scomil